20 Dec 2010 15:12

AvtoVAZ sales revenue could leap 70% to 140 bln rubles in 2010

MOSCOW. Dec 20 (Interfax) - Russia's largest automaker AvtoVAZ could end this year with a 70% sales-revenue increase to around 140 billion rubles calculated to Russian Accounting Standards (RAS), the company said.

Sales revenues last year were 84 billion rubles.

Operating profits could come to over 3 billion rubles, and AvtoVAZ expects to see 2010 net profits of around 1.5 billion rubles versus the losses the company saw last year.

Under its development plan for the period until 2020, AvtoVAZ had been anticipating sales revenues of 110 billion rubles this year (117 billion next year, and 150 billion in 2012).

Company President Igor Komarov said not long ago that AvtoVAZ plans to end 2010 a profit-maker, despite a temporary suspension of operations in August and the attendant losses.

AvtoVAZ first broke into the black in Q2, when it earned 1.97 billion rubles in net profits. The company ended 2009 with losses of 38.5 billion rubles versus 6.7 billion in 2008. Last year's sales revenues were down 47% at 84.2 billion rubles.